Final Distribution. The liquidator will distribute any assets remaining after the discharge or accommodation of the LLC’s debts, obligations and liabilities to the Members in proportion to their Capital Accounts. The liquidator will distribute any assets distributable in kind to the Members in undivided interests as tenants in common. A Member whose Capital Account is negative will have no liability to the LLC, the LLC’s creditors or any other Member with respect to the negative balance.
Appears in 7 contracts
Samples: Limited Liability Company Operating Agreement (Cf Fund Ii, LLC), Limited Liability Company Operating Agreement (Cf Fund Ii, LLC), Limited Liability Company Operating Agreement (Cf Fund Ii, LLC)
Final Distribution. The liquidator will distribute any assets remaining after the discharge or accommodation of the LLCCompany’s (or a Series’) debts, obligations obligations, and liabilities to the Members Members, in proportion to their Capital Accounts. The liquidator will many distribute any assets distributable in kind to the Members in undivided interests interests, as tenants in common. A Member whose Capital Account is negative will have no liability to the LLCCompany (or a Series), the LLC’s creditors creditors, or any other Member Member, with respect to the negative balance.
Appears in 2 contracts
Samples: Limited Liability Company Operating Agreement (Concreit Series LLC), Limited Liability Company Operating Agreement (Concreit Series LLC)
Final Distribution. The liquidator will distribute any assets remaining after the discharge or accommodation of the LLC’s Partnership's debts, obligations and liabilities to the Members Limited Partners in proportion to their Capital Accounts. The liquidator will distribute any assets distributable in kind to the Members Limited Partners in undivided interests as tenants in common. A Member Limited Partner whose Capital Account is negative will have no liability to the LLCPartnership, the LLC’s Partnership's creditors or any other Member Limited Partner with respect to the negative balance.
Appears in 2 contracts
Samples: Limited Partnership Agreement (Caltier Fund I LP), Limited Partnership Agreement (Caltier Fund I LP)
Final Distribution. The liquidator will distribute any assets remaining after the discharge or accommodation of the LLCCompany’s debts, obligations obligations, and liabilities to the Members pursuant to the order of priority set forth in Section 4.3 of this Agreement and in proportion to their Capital AccountsMembership Interest held among Members of same class of Membership. The liquidator will distribute any assets distributable in kind to the Members in undivided interests as tenants in common. A Member whose Capital Account is negative will have no liability to the LLCCompany, the LLCCompany’s creditors creditors, or any other Member with respect to the negative balance.
Appears in 2 contracts
Samples: Operating Agreement, Operating Agreement
Final Distribution. The liquidator will distribute any assets remaining after the discharge or accommodation of the LLCFund’s debts, obligations and liabilities to the Members Limited Partners in proportion to their Capital Accounts. The liquidator will distribute any assets distributable in kind to the Members Limited Partners in undivided interests as tenants in common. A Member Limited Partner whose Capital Account is negative will have no liability to the LLCFund, the LLCFund’s creditors or any other Member Limited Partner with respect to the negative balance.
Appears in 2 contracts
Samples: Limited Partnership Agreement (Veloce Cap Fund 1 Lp), Limited Partnership Agreement (Veloce Cap Fund 1 Lp)
Final Distribution. The If appointed, the liquidator will distribute any assets remaining after the discharge or accommodation of the LLC’s Company's debts, obligations obligations, and liabilities to the Members in proportion to their Capital AccountsCommon Units. The liquidator will distribute any assets distributable in kind to the Members in undivided interests interest as tenants in common. A Member whose Capital Account is negative will have no liability to the LLCCompany, the LLC’s creditors Company's creditors, or any other Member with respect to the negative balance.
Appears in 2 contracts
Samples: Operating Agreement (Huntsman Polymers Corp), Operating Agreement (Huntsman Polymers Corp)
Final Distribution. The liquidator Liquidator will distribute any assets remaining after the discharge or accommodation of the LLC’s Company's debts, obligations and liabilities to the Members in proportion to their Capital Accounts. The liquidator Liquidator will distribute any assets distributable in kind to the Members in undivided interests as tenants in common. A Member whose Capital Account is negative will have no liability to the LLCCompany, the LLC’s Company's creditors or any other Member with respect to the negative balance.
Appears in 2 contracts
Samples: Operating Agreement (Aspen Mortgage Income Fund II, LLC), Operating Agreement (Aspen Mortgage Income Fund II, LLC)
Final Distribution. The liquidator will distribute any assets remaining after the discharge or accommodation of the LLC’s Company's debts, obligations obligations, and liabilities to the Members in proportion to their Capital Accounts. The liquidator will distribute any assets distributable in kind to the Members in undivided interests as tenants in common. A Member whose Capital Account is negative will have no liability to the LLCCompany, the LLC’s creditors Company's creditors, or any other Member with respect to the negative balance.
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Final Distribution. The liquidator will distribute any assets remaining after the discharge or accommodation of the LLC’s 's debts, obligations and liabilities to the Members in proportion to their Capital Accounts. The liquidator will distribute any assets distributable in kind to the Members in undivided interests as tenants in common. A Member whose Capital Account is negative will have no liability to the LLC, the LLC’s 's creditors or any other Member with respect to the negative balance.
Appears in 1 contract
Final Distribution. The liquidator will distribute any assets remaining after the discharge or accommodation of the LLC’s debts, obligations and liabilities to the Members Members, including the Manager, in proportion to their Capital Accountsaccordance with Section 4.2. The liquidator will distribute any assets distributable in kind to the Members in undivided interests as tenants in common. A Member whose Capital Account is negative will have no liability to the LLC, the LLC’s creditors or any other Member with respect to the negative balance.
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Final Distribution. The liquidator will distribute any assets remaining after the discharge or accommodation of the LLC’s Company"s debts, obligations obligations, and liabilities to the Members pursuant to the order of priority set forth in Section 4.3 of this Agreement and in proportion to their Capital AccountsMembership Interest held among Members of same class of Membership. The liquidator will distribute any assets distributable in kind to the Members in undivided interests as tenants in common. A Member whose Capital Account is negative will have no liability to the LLCCompany, the LLC’s creditors Company"s creditors, or any other Member with respect to the negative balance.
Appears in 1 contract
Samples: Operating Agreement
Final Distribution. The liquidator will distribute any assets remaining after the discharge or accommodation of the LLC’s Company's debts, obligations obligations, and liabilities to the Members pursuant to the order of priority set forth in Section 4.3 of this Agreement and in proportion to their Capital AccountsMembership Interest held among Members of same class of Membership. The liquidator will distribute any assets distributable in kind to the Members in undivided interests as tenants in common. A Member whose Capital Account is negative will have no liability to the LLCCompany, the LLC’s creditors Company's creditors, or any other Member with respect to the negative balance.
Appears in 1 contract
Samples: Operating Agreement